Uppy, a Turkish education technology venture that has been renowned for its substantial impact potential, has been named among the world’s top startups in its area, reinforcing its status as a pioneering force in the "ed tech" realm.
The company this week received the esteemed title of "Second Best Ed Tech Startup" during the G-20 Digital Innovation Alliance (DIA) Summit in Bangalore, India, which brought together 120 startups from 20 countries, marking a significant achievement within the education technology domain.
The accolade, extended after the international jury's unanimous decision, was presented to Uppy by Ashwini Vaishnaw, the minister of communication and information technology of India, on behalf of Prime Minister Modi.
For five years leading up to this recognition, Uppy diligently worked on an unparalleled blend of technological innovation and a scientifically grounded educational model.
Uppy joined the G-20 India summit, helping within the scope of the gathering of the world's top 20 economies, upon the invitation of the Turkish Ministry of Industry and Technology.
Its project triumphed as a beacon of success in the world of entrepreneurship, delivering one of the most significant global awards in the history of Turkish startups.
Having garnered investments from prominent figures such as Ali Sabancı, Ali Koç and Nevzat Aydın, as well as leading venture capitalists in Türkiye, Uppy saw its valuation rise to $45 million in its latest funding round. This recent award further solidified Uppy’s position as it continues to expand.
The startup is not just limited to Turkish borders. It possesses multilingual capabilities in Turkish, English, German, Spanish and Portuguese. With plans for global expansion in the final quarter of 2023, the startup is poised to launch in countries including the United States, the United Kingdom, Germany, Mexico, Brazil and the Middle East and North Africa (MENA) region.
The innovation of Uppy is highly evident in its role as a super app safeguarding children aged 2 to 6 from the digital world's potential hazards. By consolidating diverse applications such as games, books, cartoons, YouTube videos, music and meditation, Uppy ensures an engaging and secure digital experience for young learners.
It boasts a 5,000-word dictionary at the core of its content and educational model, entertainingly introducing children to new words while preserving their cognitive development.
With a potential reach of 700 million families worldwide, Uppy serves as a pivotal force in addressing the challenges posed by the digital age.
Founder and chairperson of Uppy, Ayşe Şule Bilgiç, says there are around 700 million children aged 0 to 6 worldwide, exposed to screens and smart devices from an early age.
“These children face unique threats in the digital realm, causing concern for their parents. However, as they grow, they will navigate and conduct their lives in this digital world. Hence, banning screens is not a solution,” Bilgiç noted.
“Uppy believes that exposing children to screens before the age of 2 is not ideal. Beyond that, we recommend controlled usage of screens with beneficial content. This is precisely why we developed Uppy after five years of rigorous scientific research. Children can have fun on Uppy while simultaneously maximizing their educational potential."
İbrahim Coşkuner, an Uppy partner and CEO, highlighted the startup's monumental success in the history of Turkish entrepreneurship.
"At Uppy, we've constructed the iOS and Android for children. We've engineered a system that rescues parents from spending money on unregulated and unhelpful applications in app markets,” said Coşkuner.
“With our proprietary artificial intelligence, we analyze a child's behavior and provide reports and suggestions to support their development. Perhaps the most beloved feature among parents is that once they activate Uppy and its child-lock mode, the child is immersed and cannot exit the app," he added.
**** HABER 2 ****
Generative AI pioneer Syntonym raises $900K in seed funding round
Amid the rapid proliferation of image-capturing devices and facial recognition technologies, Syntonym, a pioneer in generative artificial intelligence (AI), is making waves with its innovative synthetic data anonymization technology.
The startup has recently raised $900,000 in a seed funding round spearheaded by Simya Venture Capital (VC), set up to invest in early-stage startups by 212, a pioneer in the venture ecosystem.
The round was backed by INVEST 101, established in partnership between Türkiye Development Fund and Middle East Technical University (ÖDTÜ) Teknokent, APY Ventures and Türk Telekom's venture capital investment arm, TT Ventures.
It marks an important milestone on Syntonym’s journey to protect the privacy of individuals in the face of the increasing speed of image recording devices and facial recognition technologies.
With a mission to address the challenges posed by regulations limiting the usage of visual datasets containing personal information, Syntonym offers a secure solution for AI training and data analysis.
Global journey
The technology enables the real-time creation of unique and anonymous faces on mobile, cloud or local platforms, empowering individuals to protect their privacy while engaging in various interactions.
Syntonym's strategic move to secure this funding aims to bring its years of research and development efforts to fruition. The startup is now poised to offer its patented technology to global brands.
To amplify its growth journey, Synotnym is aligning its strategy with Alchemist Accelerator, one of the world's most prestigious accelerator programs, through a partnership with Simya VC.
Hyper-realistic
Batuhan Özcan, the founder and CEO of Syntonym, emphasized that the company's hyper-realistic synthetic face generation not only underscores their commitment to user security but also incorporates visible cues to prevent potential misuse.
This ensures transparency in online interactions, such as video calls, customer services, digital health and counseling, Özcan noted.
“Our success in achieving hyper-realistic synthetic face quality reinforces our sense of responsibility toward user safety. We use visible cues to prevent potential misuse of the synthetic faces we create, thereby establishing a privacy layer for end-users. Thus, we inform users that synthetic faces are created for privacy purposes in online interaction areas such as video calls/meetings, customer service, digital health and consulting services,” he said.
Expansion plans
Özcan also highlighted the startup's plans to expand its presence in the American, European and British markets, benefiting from the support of Alchemist Accelerator's mentors.
“With our investment, we aim to grow in the American, European and British markets. At the same time, we are getting another support that is as valuable as the investment we have received. We have been included in the Alchemist Accelerator program, one of the best acceleration programs in the world. With guidance from Alchemist mentors, we started to shape our strategy for global customer acquisition,” he said.
“While enabling the advancement of artificial intelligence technologies in our growth journey, we aim to be the ‘face of data privacy’ by protecting individuals against the increasingly widespread facial recognition technologies.”
Özcan also stated that Syntonym's technological breakthrough resonates with the need for AI-powered solutions to respect individuals' privacy expectations while delivering on their data needs.
By focusing on enhancing the quality of synthetic face models and reducing hardware and power requirements, the startup aims to provide seamless, General Data Protection Regulation (GDPR) – and Personal Data Protection Board (KVKK)-compliant AI training and analysis data to organizations reliant on visual data processing, he added.
“While preserving important metrics such as expressions, eye movements and head positions on human faces, we also get rid of biometric data. Thus, the outputs we produce are transformed into artificial intelligence training and analysis data in accordance with the GDPR/KVKK for companies that need visual data,” said Özcan.
“As of the level that our technology has reached, we are in a leading position in the global market in the field of generative AI. In this way, we have been able to develop data privacy provider applications that can be used by end users as well as organizations that process visual data.”
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REM People bolsters retail tech hub vision by funding Hoopla platform
REM People, a prominent provider of artificial intelligence-based image recognition and retail analytics services to over 50 countries, is adding pace to realize its ambition of becoming a hub for AI-powered retail technology.
The company has invested in Hoopla, a B2B e-commerce application that provides supply services targeting traditional sales channels such as small-to-medium-sized markets, convenience stores, kiosks, and non-residential consumption.
REM People’s $1 million investment came as part of Hoopla’s seed funding round that totaled $1.35 million and was joined by another two angel investors.
$12 million investment
Founded by tech entrepreneurs with expertise in retail and technology in 2015, REM People has evolved into a pioneering provider of AI-enhanced omnichannel retail analytics and sales efficiency solutions. Developed entirely by Turkish engineers, the software serves leading brands. Driven by a commitment to excel, REM People aspires to become a global leader in the realm of retail analytics.
Having secured a $12 million investment from Ethos Asset Management, a U.S.-based investment company, earlier this year, REM People is taking strides to strengthen the entrepreneurial ecosystem. This year, the company committed to investing $4.5 million in five technology startups as part of its vision to become a leading AI-powered retail technology center.
Empowering retailers
The initial step toward this vision materialized through the investment in Hoopla, a dynamic e-commerce platform founded by Onur Pekşen and Aydın Emek in 2021. Hoopla aims to revolutionize the fast-moving consumer goods sector by transforming traditional sales channels through its innovative service and technological infrastructure.
Hoopla empowers small and medium-sized retailers to digitally order products according to their needs and preferences, bypassing intermediaries like distributors and wholesalers. This digital platform directly impacts inventory, cash flow and profitability management, ensuring seamless operations for retailers.
Yet Hoopla's reach extends beyond brick-and-mortar retailers. The platform also aids manufacturers, suppliers and distributors in increasing the distribution and availability of their products at reduced operational costs.
Collaborating with more than 40 national and international suppliers including Procter & Gamble (P&G), Upfield, Lipton, Kotex, Savola Yudum, Kellogg's, Beypazarı Maden Suları, Unilever, Doğadan and Ace, Hoopla continues to expand its supplier and retailer network.
**** HABER 4 ****
Turkish fintech Craftgate secures $1M investment
Craftgate, an Istanbul-based payment orchestration platform has secured a $1 million investment in a funding round involving Hepsiburada and D4 Ventures.
Craftgate's platform facilitates efficient management of virtual POS terminals, partnered payment/e-money institutions and alternative payment methods, positioning itself as a catalyst for businesses' financial autonomy.
The investment is poised to bolster Craftgate's marketing efforts and expansion initiatives, aligning with top e-commerce platform Hepsiburada's vision to enhance its fintech portfolio and accelerate the growth of e-commerce partners.
Launched in 2021, Craftgate has rapidly gained momentum with its seasoned founding team, robust workforce and strategic investments. The platform has gained prominence for revolutionizing digital payment processes, especially in the domain of e-commerce, while concurrently maintaining a commitment to research and development (R&D).
The company’s suite of services includes central integration, card storage, one-click payments, marketplace solutions, closed-loop wallets, payment forms, collaborative payment pages, link and QR code payments, intelligent and dynamic payment routing, and proactive monitoring.
These value-added services not only streamline payment system integration and collection processes but also help reduce operational costs for organizations, empowering them to focus on growth.
Hakan Erdoğan, co-founder and CEO of Craftgate, said the latest funding would be allocated toward expanding the team and intensifying marketing and sales activities.
"Leveraging our years of experience in the financial technology sector in Türkiye, we are dedicated to supporting businesses’ growth. With the belief in our payment systems expertise and product shown by investors like Hepsiburada and D4 Ventures, we are rapidly expanding and working toward our global aspirations. I believe that this partnership with our new investors will add substantial strength to our capabilities," Erdoğan noted.
